Compare the best penny stock apps in 2024

By:

Prash Raval

Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.

Updated: Apr 3, 2023

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Penny stocks are high risk high reward investments and using a trading platform or stock app is a convenient way to access the best shares. This beginner friendly guide compares and ranks the best penny stock apps to help you select the most suitable one. 

Best penny stock apps overall for 2024

What are the best penny stock apps?

If you’re ready to start investing right away then check out the list of apps below. They have been selected by our investment experts and are the top apps around to buy penny stocks. Just click on any of the links to get started in minutes, or read on for our comprehensive list.

Most Popular

1

Min. Deposit

$ 10

Best offer

User Score

10

Up to $240 bonus!

Deposit with ACA, Wire, Pay with my bank

Invest for dividends and get payout on stocks on Ex-Dividend day

Start Trading more info

Payment Methods:

Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer

Full Regulations:

CySEC, FCA

77% of retail CFD accounts lose money.

2

Min. Deposit

$ 100

Best offer

User Score

9.8

Trade +2000 CFDs on Shares, Options, Commodities & more

Unlimited risk-free Demo Account

0 commissions & attractive spreads with up to 1:5 leverage

Start Trading more info

Payment Methods:

American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill

Full Regulations:

ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3

Min. Deposit

-

Best offer

User Score

9.7

Diverse stock selection providing investors with a diverse array of options for their portfolios.

Advanced trading tools aiding in executing trades with precision in the dynamic stock market.

Easy portfolio management.

Start Trading more info

Payment Methods:

ACH, Bank Wire, Check

Full Regulations:

CFTC, FCA, FINRA, IIROC, NFA, NYSE, SIPC

US: Interactive Brokers LLC is a member of NYSE FINRA SIPC.IE: Interactive Brokers is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Registering Court: Company Registry of the Metropolitan General Court.UK: Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.Your account is cleared and carried by Interactive Brokers LLC and for certain limited products by Interactive Brokers (U.K.) Limited. Interactive Brokers LLC is regulated by the US SEC and CFTC and is a member of the SIPC (www.sipc.org) compensation scheme. Interactive Brokers (U.K.) Limited is authorised and regulated by the FCA and regulated products are covered by the UK FSCS.Certain financial products are not suitable for all investors. Customers should read the relevant risk warnings before investing. Your capital is at risk and your losses may exceed the value of your original investment.

Top 6 penny stock apps, reviewed

1. eToro. Best for beginners, copy-trading & demo-account

Visit site

2900

No. assets

$10

Minimum deposit

Stocks

Platform type

Pros & Cons

Great for beginners, simple to set up and get started Zero commission stock trading Popular ‘CopyTrader’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade

Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because you can trade more than 3,000 stocks, commission free. When you buy stocks on eToro, you’re buying the underlying asset, which means you can earn dividends. Or you can trade fractional shares, which means you can invest in even the most expensive stock from just $10.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the stock market every day, browse the latest analyst opinion about every one of those stocks, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: Stock and ETF trades are commission free. Stock CFDs are charged a 0.15% spread and overnight fees can apply. You can deposit money for free but you have to pay $5 per withdrawal, and there’s a minimum withdrawal of $30. A $10 per month activity fee is charged if you don’t log in for a year.

Visit eToro eToro Review

77% of retail CFD accounts lose money.

2. Plus500. Best for international CFD trading*

Visit site

4300

No. assets

$100

Minimum deposit

Stocks

Platform type

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools

No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 2000 stocks.

Plus500 has something for all types of stock trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting.

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding depending on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Visit Plus500 Plus500 Review

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Best online broker for range of markets

Visit site

...

No. assets

...

Minimum deposit

Stocks

Platform type

Pros & Cons

Regulated by several financial authorities Free stock and ETF trading for US traders Earn interest on cash balance Free demo trading account available

The desktop trading platform is complex to navigate Customer service not available 24/7 Credit/debit card payment not available

Overview

We love Interactive Brokers because it has one of the widest selections of tradable assets we’ve ever seen. IBKR is one of the best-known and longest-running brokers in the world and when you create an account you’ll have access to tens of thousands of stocks, ETFs, funds, indices, currencies, bonds, and cryptocurrencies. 

Besides lots of markets, Interactive Brokers also offers a good range of additional tools and features including risk management tools, cutting-edge portfolio management services, and the ability to automate your trading system through ready-made or custom-built algorithms. 

The fees: Charges vary depending on the asset you’re trading. Stocks and ETFs are commission-free, as are most funds. Options fees range from $0.15 to $0.65 per option contract. Cryptocurrency fees range between 0.12% to 0.18% of the trade value. Forex trades have commissions which can be as low as a fraction of a pip. 

Visit Interactive Brokers Interactive Brokers Review

4. Public. Best for sharing beginner trading ideas

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...

No. assets

...

Minimum deposit

Stocks

Platform type

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments

You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.

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5. Degiro. Best for 0% commission on US stocks

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50

No. assets

...

Minimum deposit

Stocks

Platform type

Pros & Cons

Low trading fees No minimum deposit required Segregated client funds

No US customers No forex or cryptocurrencies offered for trading Limited educational resources

Overview

We love Degiro because it offers a simple trading platform so that you can trade quickly and easily wherever you are. Degiro offers stock trading on 50 stock exchanges in 30 countries, including the US, UK, and all leading European markets, with free stock trading on all US stocks.

Degiro has won 86 international awards and is one of the largest companies in Germany. All its services are available online or via the Degiro app. The website also boasts a huge range of educational material, including an Investor’s Academy, to help you get started.

The fees: All stock trades come with a €1 handling fee. US stock trading has no other fees, UK stock trading costs $1.75, and European stock trading costs €3.90. The rest of the world costs €5. A core selection of ETFs are free to trade, other global ETFs cost €2 plus a €1 handling fee. Derivative trading costs €0.75. There are no inactivity, deposit, or withdrawal fees.

Visit DEGIRO DEGIRO Review

Investing involves risk of loss

What is a penny stock app?

It’s an application that allows you to trade penny stocks from your mobile device. Most online brokerage firms have both web based and mobile platforms. Penny stock apps can be accessed via your smartphone or tablet and usually offer the same features as desktop versions. 

How does a penny stock app work?

To use a penny stock app you will first need to register an account with an online broker. When your account has been created the penny stock apps need to be downloaded onto your smartphone or tablet in order for them to work. Mobile apps allow you to buy and sell penny stocks while on the go and have the same features as desktop or web based platforms. 

How should I choose a penny stock app?

There are a number of factors that you should consider when choosing which penny stock app to go with. You’ll want an application that has low fees, good speed, and a good selection of stocks to buy or sell. Below we’ve summarised the key features you should look out for before downloading a penny stock app. 

• Range of penny stocks. Not all brokers allow you to access penny stocks but some do. The ones that don’t sometimes offer ‘cheap stocks’ that trade under $5. You should check what shares are available on the app you choose to download. 
• Fees. Buying and selling penny stocks isn’t free. You’ll likely incur some costs like commissions and spreads. THere’s also deposit and withdrawal fees to think about. You can check your broker’s fee schedule prior to downloading an app. 
• Reliability. Penny stocks are notoriously volatile markets so you’ll want to make sure the app you choose is reliable. If an app crashes or goes down a lot, it could make your trading or investing much more difficult. 
• Speed. If you’re planning on trading penny stocks then an app that has good connectivity and speed is a must. Markets can move fast so you’ll want to make sure any app you use can keep up. 
• Other assets. Most penny stock apps let you trade other assets. If you want to invest in other markets like forex, indices, or commodities, then you should check with your broker if they are available. 
• Security. The best apps offer additional security features. Things like 2FA can help keep your account safe with the requirement of a one time passcode when logging in. Apps can also make use of mobile device unlocking features like fingerprints. 
• Technical tools. Using technical indicators is a good way to analyse price charts and can help with timing your trades or investments. Make sure you check with your broker what type of technical tools are available.

Should I use a penny stock app?

If you invest in or trade penny stocks then using an app could be a good idea. Apps make it easy to check up on your portfolio while on the go although they do have some limitations which can make trading difficult. The size of the screen you have on your smartphone or tablet is smaller than a computer or laptop which can make chart analysis more difficult. 

What are the risks of using a penny stock app?

Using a penny stock app is generally safe, although investing in and trading penny stocks is considered a risky strategy. Below we have included the benefits and risks of using a penny stock app

What are the fees for using a penny stock app?

Using a penny stock app is usually free although investing in and trading comes with some costs. Some apps charge commission for each transaction you make and all brokers charge spreads (the difference between the buy and sell price). Before signing up for a penny stock app it’s a good idea to check your broker’s fee structure. 

Methodology: How did we choose the best penny stock app?

Each penny stock app listed on this page was evaluated following a strict process. Our investment experts tested each app and considered a number of factors when making rankings. These included, downloading an app, registering an account, searching for penny stocks, buying and selling stocks, and depositing and withdrawing money. 

During our comparison of each app we used online reviews as well as our own research. Each app on this list has its own in depth review on Invezz. Our rankings and reviews are not influenced by brokers however we may earn an affiliate commission if you click on a link and register an account. 

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